# Profit and Loss Quiz Set 005

### Question 1

A merchant is selling cloth at a profit of 254%. If the cost increases by 18%, but he continues to sell at the same price, then what is the new profit percentage?

A

200%.

B

300%.

C

100%.

D

400%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + \$254/100\$) = \$354/100\$ × CP. New CP = (1 + \$18/100\$) × CP, which is \$118/100\$ × CP. New Profit% = (SP/CP - 1) × 100, which is \$(({354/100 × CP}/{118/100 × CP}) - 1) × 100)\$, which becomes \$(354 - 118)/118\$ × 100 = 200%.

### Question 2

What should be the marked price of an item if a profit of 125% is to be made after allowing a discount of 25%?

A

Rs. 300.

B

Rs. 310.

C

Rs. 290.

D

Rs. 320.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 125 = Rs. 225. If M is the marked price, then sale price is (100 - 25)% of M = 225. Which gives 75M/100 = 225, which gives M = Rs. 300

### Question 3

When an item is sold for Rs. 49000, a loss of 55% is incurred. What should be the sale price to earn a profit of 125%?

A

Rs. 245000.

B

Rs. 245010.

C

Rs. 245020.

D

Rs. 244990.

Soln.
Ans: a

As a shortcut, we can set a proportionality \${X/{100 + 125}\$ = \${49000/{100 - 55}.\$ Solving, X = 225 × \$49000/\$45, which gives X = 245000.

### Question 4

An article was purchased at \${3/50}\$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

A

\$1983{1/3}\$%.

B

3400%.

C

1400%.

D

\$1081{9/11}\$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/50) × 100 = 6. The profit 125 - 6 = Rs. 119. Percent profit = \$119/6\$ × 100 = \$1983{1/3}\$%.

### Question 5

A loss of x% is incurred if an item is sold for Rs. 6200. But if the same item is sold for Rs. 13600 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 15%?

A

Rs. 11385.

B

Rs. 11386.

C

Rs. 11384.

D

Rs. 11387.

Soln.
Ans: a

Let the cost of the item be C. Then, \${C - 6200}/C\$ = \${13600 - C}/C\$, which gives C = Rs. 9900. To sell it it a profit of 15%, \${S - 9900}/9900\$ × 100 = 15, which gives S = Rs. 11385. 